P(x+Δx)-P(x)
C(Δx)
Where P is the Price function, C is the Cost function, x is a priori knowledge, Δx is the change in beliefs, and x+Δx is the a posteriori knowledge.
The value of a piece of information is proportional the change in belief it creates divided by cost.
April 5, 2017
Cedric Yau 